Nielsen has published a report documenting Asian American consumerism, covering everything from grocery purchases to viewing of digital media. My key take-away from the report is that the Asian American demographic has high spending power, population concentrations in specific areas, and has high adaptability, use, and interest in emerging technologies including smartphones and new media outlets. Personally, I believe that YouTube is particularly more popular with Asian Americans because it allows us to see other Asian Americans in much more diverse representations than available in mainstream outlets. YouTube is filled to the seams with talented Asian American singers, dancers, comedians, videographers, musicians — these are just roles that do not exist in mainstream media for Asian Americans.
Here are some other important points I really enjoyed, mostly dealing with the technology industry:
- Asian Americans are the fastest growing multicultural group in the U.S., at approximately 18.2 million having increased 50% since 2000. This is the highest growth rate of any multicultural segment.
- Asian Americans have 70% smartphone penetration, the most of any demographic group. Funnily, Asian Americans like the iPhone more than Android devices, counter to the national trend.
- Asian Americans spend 80 hours on the internet each month and view 3600 web pages monthly which is 1000 more than any other group. Amusingly, Asian Americans visit consumer electronics sites 36% more often and spend 72% more time on them than the total population.
- Asian Americans also lead the way in internet purchases, just edging the non-Hispanic white groups and almost doubling Hispanic and non-Hispanic black groups.
- And a great line from the report: “Currently, Korean dramas are popular among Asian Americans. Korean dramas are unique in that they appeal to the wider spectrum of Asian Americans…” Be sure to add K-Pop to that as well!
And the official conclusion of the report for your reading pleasure:
With the ever-increasing influence of the Asian American population in
the U.S., it is important for marketers to take a closer look at this valuable
market segment. By tapping into the fastest growing demographic with the
highest purchasing power per capita, there is an opportunity to offset the
decline in growth of the non-Hispanic White population.
Marketers need to have a strong understanding of the dynamics within the
Asian American market and an appreciation for both the common cultural
themes as well as the unique diversities. Couple this with an understanding
of the rate of technology adoption and multiple platform usage for a better
picture of this consumer segment. Steady immigration accentuates the need
to understand that Asian American consumer preferences for categories
and brands are influenced by homeland experiences. The large foreign-born
population also indicates the necessity for a sustainable media industry that
caters to Asian linguistic needs and cultural nuances.
Traditional media, grassroots events, out-of-home advertising, social media,
online video and smartphones represent part of the vast number of growing
touch points used by brands to deliver marketing messages and engage
Asian American consumers. The key is keeping abreast of the trends to
anticipate where the market is headed.
By cultivating a deeper understanding of Asian Americans, marketers can tap
into this attractive, expanding opportunity that is likely to reward those who
have closely analyzed the behavior of this consumer.
The full report can be downloaded here:
ALEX_CHAN_ 